Vicente Reynal
Chairman and Chief Executive Officer at Ingersoll Rand
Thanks, Vik. On Slide 12, our Industrial Technologies and Services segment delivered strong Year-over-Year organic revenue growth of 22%, with volume growth outpacing growth from pricing. Adjusted EBITDA increased 24% Year-over-Year, with an adjusted EBITDA margin of 27.4%, up 170 basis-points from prior year, with an incremental margin of 38%. We also delivered sequential margin expansion of 120 basis-points from Q3 to Q4. We continue to see solid demand for our products with organic orders up 4%. Note that on a two-year stack, the IPS segment organic orders grew more than 20%.
Moving to the individual product categories, each of the figures exclude the negative impact of opex, which Year-over-Year was six to seven percentage point headwind across the total segment on both orders and revenue. Starting with compressors, we saw orders up in the low-single digits. And we continue to see oil free products orders outpacing oil lubricated products. Orders were down mid single-digits in the Americas, driven by a large order push from Q4 to the first-quarter of 2023. EMEA, demand continues to be above-market with orders up mid single-digits.
The Asia-Pacific team continues to deliver great performance, with orders growth in the mid-teens, which is impressive when you think about that our team in China delivered double-digit growth even throughout the COVID related closures and disruptions. In vacuum and blowers, orders were up low-20s globally and the power tools and lifting, global orders grew mid single digits.
Moving to the innovation in action portion of the slide, we're highlighting our footprint expansion in India, which is another organic investment initiatives we are driving. We have seen significant growth in India and we continue to drive opportunities for in region for regional manufacturing, which is driving the need for increase in our footprint.
Turning to Slide 13, revenue in the Precision and Science Technologies segment grew 9% organically. Additionally, the PST team delivered adjusted EBITDA of $93 million, which was up 20% Year-over-Year, with incremental margins of over 80%. Adjusted EBITDA margin was 30.1%, up 330 basis-points Year-over-Year. We continue to see sequential improvement in our adjusted EBITDA margin, driven by price-cost improvement and synergy delivery on our recently-completed M&As [Technical Issues].
Organic orders were down 2% Year-over-Year as Q4 comps were challenged due to headwinds from a single large hydrogen order intake in Q4 of 2021, which will deliver a network of refueling stations in New Zealand. Adjusting for these hydrogen order, normalized organic orders were up slightly and on a two-year stack, organic orders are up double-digits. So our PST innovation in action, we're highlighting our EVO electric diaphragm pump. These recently launched product is the only electric triple chamber diaphragm pump in the market. The EVO series pump is utilized in high-growth end-markets such as electric vehicle battery, specialty chemical manufacturing and food and beverage applications.
These products offer significant energy savings, leading to faster payback times for our customers. And this is yet another perfect example of sustainability and the growth driver and our focus on high-growth sustainable end-markets, enabling us to deliver double-digit earnings growth.
As we move to slide 14, we're introducing our 2023 guidance. Total company revenue is expected to grow between 7% to 9%, with the first-half growth of 9% to 11% and the second-half growth of 4% to 6%. We anticipate organic orders growth of 3% to 5%, where price is approximately 70% and volume 30%. FX is expected to contribute approximately 1% of a headwind for the year, of which the impact will primarily be realized in the first-half of the year.
M&A is projected at $270 million, which reflects all completed and closed M&A transactions since 2022, as well as acquisition of SPX FLOW Air Treatment and Paragon Tank Truck. Corporate costs are planed at $140 million and will be incurred evenly per quarter throughout the year. The Year-over-Year increase is largely driven by investments in IIoT and demand-generation.
Total adjusted EBITDA for the company is expected to be in the range of $1.57 billion, $1.63 billion. At the bottom of the table, we are introducing adjusted EPS guidance. While we have not historically guided an EPS, we will now include this metric moving forward. Adjusted EPS is projected to fall within the range of $2.48 and $2.58. We anticipate our adjusted tax-rate to be in the low 20s, interest expense to be approximately $165 million and capex to be around 2% of revenue. The right-hand side of the page includes a 2023 full year guidance which is showing the growth associated with operational activity and the headwinds associated with interest expenses, FX and changes in digital tax rate.
Based on the above guidance, adjusted EPS growth attributed to operational performance is approximately 13% to 17%, offset by approximately 8% in headwinds from interest expense, FX and the adjusted tax-rate. As we sit here in February and to provide some Q1 commentary, it is worth noting that we have the organic orders continue to be positive on quarter-to-date basis, through the first week of February, which is consistent with our expectations.
Turning to Slide 15, as we wrap up today's call. I want to reiterate that Ingersoll-Rand is in a solid position. We finished 2022 with strong Q4 results. We continue to monitor dynamic market conditions, while remaining agile and prepare for any challenges that may come. To our employees. I want to thank you again for an excellent finish to the year, We delivered strong results by demonstrating our commitment to meet our financial targets and executing our economic growth engine though the strong use of IRX.
Thank you for your hard work, resiliency and focus actions. These results show the impact you have as owners of the company. Our balance sheet is strong and with our discipline and comprehensive capital allocation policy and strategy, we remain resilient and have the capacity to deploy capital to investments with the highest-return as we continue our track record of market outperformance.
With that. I will turn the call back to the operator and open for Q&A.
